Asked by Zeyka Strandzheva on May 16, 2024
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The web has changed the nature of competition but has not changed Porter's five fundamental forces.
Nature of Competition
Refers to the characteristics and dynamics of rivalry among businesses in the same industry, which can influence market behavior and business strategies.
Porter's Five Forces
A model developed by Michael E. Porter that identifies and analyzes five competitive forces that shape every industry and help determine an industry's weaknesses and strengths.
- Acknowledge the fundamental importance of planning and anticipation in the context of competitive strategy.
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Learning Objectives
- Acknowledge the fundamental importance of planning and anticipation in the context of competitive strategy.
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